Discussion Forum

I have a buyer doing an RD loan on one of my short sales and is asking for roughly 4% closing cost to be paid by the seller. Does Freddie Mac allow more than 3% seller concessions with an RD loan?Continue

I have a buyer doing an RD loan on one of my short sales and is asking for roughly 4% closing cost to be paid by the seller. Does Freddie Mac allow more than 3% seller concessions with an RD loan?Continue

We're initiating a short sale with Plaza Home Mortgage and were surprised how quickly they filed a Notice of Sale after the loan mod failed. They are quoting 23 days to auction.This is a Freddie Mac…Continue

Thanks guys. Already restarted the file, and BofA has open inquiry to Freddie for response. Buyer is now delinquent this month, and it appears they were demanding more than full payoff as the offset is only $28k not $30k+.

It does not pay to do the right thing by borrowers, only what is necessary to complete a short sale.

Need a little help on a Freddie Mac issue. We had an offer of $209k and BPO value at $208k with Seneca Mtg(on behalf of BofA). They just declined out saying freddie wants $30k more than fair value. I have never seen this before and I have done hundreds of short sales. Before we go directly to Freddie, does anyone have any ideas? The seller is current on their mortgage as well.

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